First Solar (NASDAQ:FSLR) Given New $209.00 Price Target at Mizuho

First Solar (NASDAQ:FSLR) had its price target boosted by Mizuho from $196.00 to $209.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the solar cell manufacturer’s stock.

FSLR has been the subject of a number of other reports. Barclays upped their price target on First Solar from $224.00 to $227.00 and gave the stock an overweight rating in a report on Friday, April 19th. Royal Bank of Canada reissued an outperform rating and issued a $195.00 price target on shares of First Solar in a report on Wednesday, February 28th. Bank of America lifted their target price on First Solar from $187.00 to $194.00 and gave the stock a buy rating in a research report on Wednesday, April 10th. Evercore ISI upgraded shares of First Solar from an in-line rating to an outperform rating and set a $227.00 target price on the stock in a research report on Tuesday, April 23rd. Finally, Janney Montgomery Scott started coverage on shares of First Solar in a research report on Friday, April 12th. They issued a buy rating and a $236.00 price target for the company. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, First Solar currently has a consensus rating of Moderate Buy and an average price target of $238.16.

First Solar Stock Performance

Shares of NASDAQ FSLR opened at $191.55 on Thursday. The business’s 50-day simple moving average is $166.57 and its 200-day simple moving average is $158.28. First Solar has a 52 week low of $129.21 and a 52 week high of $232.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.92 and a current ratio of 2.41. The firm has a market cap of $20.50 billion, a price-to-earnings ratio of 20.08, a P/E/G ratio of 0.31 and a beta of 1.37.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.30. The business had revenue of $794.10 million during the quarter, compared to the consensus estimate of $718.19 million. First Solar had a net margin of 28.75% and a return on equity of 16.24%. First Solar’s quarterly revenue was up 44.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 EPS. As a group, equities research analysts expect that First Solar will post 13.55 earnings per share for the current fiscal year.

Insider Transactions at First Solar

In related news, insider Georges Antoun sold 16,667 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $155.55, for a total value of $2,592,551.85. Following the transaction, the insider now directly owns 42,041 shares in the company, valued at $6,539,477.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Georges Antoun sold 16,667 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $155.55, for a total value of $2,592,551.85. Following the completion of the sale, the insider now owns 42,041 shares in the company, valued at $6,539,477.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R Craig Kennedy sold 1,500 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $157.76, for a total value of $236,640.00. Following the transaction, the director now owns 15,641 shares in the company, valued at approximately $2,467,524.16. The disclosure for this sale can be found here. Insiders sold a total of 26,620 shares of company stock worth $4,269,540 in the last quarter. 0.58% of the stock is owned by company insiders.

Institutional Trading of First Solar

A number of large investors have recently made changes to their positions in FSLR. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of First Solar in the first quarter worth about $25,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in First Solar during the 4th quarter worth approximately $27,000. Estabrook Capital Management bought a new stake in shares of First Solar during the third quarter worth $29,000. Baystate Wealth Management LLC bought a new stake in First Solar in the 4th quarter valued at $29,000. Finally, Headinvest LLC acquired a new position in First Solar in the 3rd quarter worth $30,000. Institutional investors own 92.08% of the company’s stock.

About First Solar

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.